APE Apogee Opportunities

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Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE:APE) is pleased
to announce that due to investor demand it intends to increase the size of its
previously announced brokered private placement financing to $6,500,000 (See
Press Release dated November 4, 2010). The Company intends to complete a
brokered private placement financing of units ("Units") whereby PowerOne Capital
Markets Limited and Delano Capital Corp. will act as exclusive agents (the
"Agents") for the sale of up to 36,111,112 Units at a price of $0.18 per Unit
for gross proceeds in the amount of $6,500,000 (the "Offering"). Each Unit
consists of one common share of the Company (a "Common Share") and one common
share purchase warrant (a "Warrant"). Each Warrant will entitle the holder
thereof to acquire a Common Share at the exercise price of $0.25 per share for a
period of up to 24 months following the closing of the Offering.


As consideration to the Agents, the Company has agreed to pay the Agents a cash
commission in an amount equal to 7% of the gross proceeds raised in the Offering
and shall issue the Agents compensation options to acquire that number of Units
which equals 7% of the Units sold pursuant to the Offering (the "Compensation
Options"). Each Compensation Option shall be exercisable at a price of $0.18 and
shall consist of one Common Share of the Company (a "Compensation Share") and
one warrant entitling the Agents to acquire a Common Share at an exercise price
of $0.25 for a period of up to 24 months from the date of issue (a "Compensation
Warrant").


The Company intends to use net proceeds to continue the development of its key
projects and for working capital purposes.


The Common Shares, the Warrants, the Compensation Options and the shares
issuable upon the exercise of the Warrants, the Compensation Options and the
Compensation Warrants, are subject to resale restrictions. Closing of the
financing is subject to receipt of regulatory approval, including final TSX
Venture approval.


For detailed project information please refer to Apogee's web site at
www.apogeeminerals.com.


About Apogee Minerals Limited

Apogee Minerals Ltd. is an exploration stage company listed on the TSX Venture
Exchange under the symbol APE. Apogee targets advanced stage silver-zinc-lead
projects in South America that demonstrate potential to be accelerated to
production. Currently its projects are located in the historic silver producing
regions of southwest Bolivia and northern Chile.


Its most advanced project is the Pulacayo-Paca project in Bolivia, which is an
option to joint venture with Golden Minerals Company. This project includes the
property that covered the second-largest silver mine in the history of Bolivia
with over 600 million ounces of past production.


Cautionary Note Regarding Forward-Looking Information This press release
contains "forward looking information" within the meaning of applicable Canadian
securities legislation. Forward looking information includes, but is not limited
to, statements with respect to the future financial or operating performance of
the Company, its subsidiaries and its projects, statements regarding the terms
of the financing and projected use of proceeds, statements regarding exploration
prospects, and requirements for additional capital. Generally, forward looking
information can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such forward-looking
information, including but not limited to: financing not being available at
desired prices; general business, economic, competitive, political and social
uncertainties; the actual results of current exploration activities; timing and
availability of external financing on acceptable terms; conclusions of economic
evaluations; changes in project parameters as plans continue to be refined;
future prices of mineral prices; failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes and other risks of the mining
industry; and, delays in obtaining governmental approvals or required financing
or in the completion of activities. Although the Company has attempted to
identify important factors that could cause actual results to differ materially
from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward
looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.

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